Depends on how you look at it. Would I rather have an extra octo and hose that could possibly come out of the bungee and get stuck or tangled somewhere behind my head where I can't find it? In all honesty, can you say that the octo always stays in the bungee and has never come out? In an emergency, I'm more worried about finding my backup reg than how comfortable it is-----hell with all the adrenaline pumping, I could give a damn where my air is coming from or if it's slightly uncomfortable.
I almost see the octo/inflator as a slight variation of the typical long hose main/short hose octo but taken to the next step. One of the goals is always to streamline and simplify as much as possible, get rid of one more dangly. Why not get rid of the 22" hose and bungied octo? One less hose, less drag, more streamlined, cool!
In an emergency, what bc doesn't have a shoulder dump or quick exhaust dump to help with venting? Also, there's a HUGE vent button on the SS1, so if you can't handle that, good luck.
The way I see it, the long main/short octo is a great configuration and if you're happy with it, enjoy! To each his own I say.
Personally, I like the KISS concept and if I can keep it simple, streamline, get rid of one dangly hose, and not have to worry about the octo ever falling out of the bungee, why not? I'm not in the military, someone doesn't have to approve everything I do and if I'm comfortable with something and can make sense of it, why not? Diving is supposed to be fun and I don't always need a higher authority to give their stamp of approval.
I say have fun and to each his own!